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Faster B2B
HSBC has completed its initial blockchain-based trade transaction, using the Voltron network that HSBC has developed in collaboration with other banks.
Hong Kong-based MTC Electronic used the network to ship raw materials to its parent company, Shenzhen MTC, in mainland China, reports
Banks and nonbank financial companies are building

In the black
Indian fintech MobiKwik reports it's turning a profit, a rarity for relatively young digital payments firm, and a milestone it's reached ahead of local rival
MobiKwik has focused on building broader financial relationships with its base of about 110 million users, reports TechCrunch, adding that's allowed it to become cash flow positive about 10 years after its launch. MobiKwik has raised about $118 million to date, while Paytm has raised about $2 billion, reports
Square biz
Square is floating discounts through partnering with TSB Bank in an effort to build a base of business clients for the payment company's U.K. operation.
The bank's business customers will get a free Square Reader and a fee waiver for the first £1,000 in sales.
Crypto concert
Manny Pacquiao has launched "Pac" tokens, which people can use to buy the boxer's merchandise and connect with him on social networks.
Pacquiao launched Pac at a concert in Manila (Pacquiao is also a singer and a member of the Philippines' Senate), Pac will be listed on the Singapore-based Global Crypto Offering Exchange, reports
Boxing and cryptocurrency have not always been a good mix.
From the Web
FOX BUSINESS | Tue September 3, 2019
Amazon is reportedly testing a new payment system that uses handprints for checkout, instead of a card or an app. The e-commerce giant is testing the biometric scanners on vending machines in its New York offices with the hope of setting them up in its Whole Foods grocery stores.
TECHCRUNCH | Wed September 4, 2019
After weeks of media reports, Alibaba may finally be nearing an agreement to acquire NetEase’s cross-border e-commerce unit, Kaola. Chinese tech news website 36kr reports that a deal may be announced as early as this week and is expected to be worth $2 billion in cash and shares.
THE STRAITS TIMES | Wed September 4, 2019
No cash, no cards, no wallet, and no smartphones: China's shoppers are increasingly purchasing goods with just a turn of their heads as the country embraces facial payment technology. China's mobile payment infrastructure is one of the most advanced in the world, but the new systems — which require only face recognition — being rolled out nationwide could make even QR codes seem old-fashioned.
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